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mccain really criticized egyptian president morsi, really, really criticized him and basically said he's taking undemocratic dictatorial moves. he's esurping the authority of his own judiciary and this is not somebody we shouldn't rebuke, somebody we should be very critical of. what's your thought with mccain and morsi? >> well, look what happened. morsi came out of the gaza/israeli/hamas battle and his stock was improving so he overstepped himself, but what surprised me was the egyptian people and the high court reprimanded him, and they said we're not going to take this from you, and he's now backing off. so i agree with senator mccain, but i'm also encouraged a little bit that the -- that the egyptian people stood up to their own prime minister and said you're going too far. >> what does it mean? mean, how do you ignore or just take away the power of your own judiciary? i mean, that's really at the heart of the egyptian separation of powers. it's at the heart of the egyptian democracy. how farhink morsi is going to take this? i mean, is he going to give himself dictatorial powers
. we'll see what the rest of the industry has to say. but it's giving us a guide. mohamed morsi is to meet to halt violent protests. here's the latest from cairo. >> for a second straight day, egypt stock market has opened in a downward spiral followed by a decree by are morsi that has plunged the country into political turmoil. on the streets for a fifth straight day, there have been clashes between pro morsi supporters and his opponents. here in the capital, one of the victims is being laid to rest after he was killed by security officials. the anger stems from a decree issued on thursday gives morsi powers that are unchecked. he essentially has the authority to legislate and that is not subject to any type of judicial review pl opponents say it amounts to a dinlg at a time tore ship and this is what they fought against two years ago. but supporters say he must take these drastic measures in order to ram home reforms being blocked that have hijacked egypt's judiciary. ross. >> all right. latest from cry row. meanwhile israeli defense minister barack has resigned, a surprise mo
by the egyptian president mohamed morsi that grants him sweeping constitutional powers. >> reporter: hundreds of thousands of egyptians have poured into tahrir square and cities all across egypt demanding that president mohamed morsi rescind his decision that granted him sweeping powers. they say it is reminiscent of the mubarak era, sending this country back to dictatorship. for the past five days, police have clashed with protesters, firing tear gas and beating them at times. more importantly, they are demanding that egypt's new constitution is one that reflects the diversity of egypt, not the sole control of the muslim brotherhood. many of the people here are angered by what they say is the attempt by the muslim brotherhood and the president mohamed morsi to take control of the country and ram pole their agenda at the expense of secular forces like those that have gathered behind my. >> neil sheering still with us. investors have gotten quite bullish on egypt. do you think the investment thesis is fundamentally changed? >> i think it's a bit of a wake-up call to the post-revolution transit
. after a decree by egyptian president mohamed morsi that put his decisions above legal challenge. protesters accusing him of a coup. all eyes of course on egypt, as well as israel and gaza where the cease-fire is still in place. oil prices also saw additional port on the news out of europe, optimism over greece today. west texas intermediate closing above $88 a barrel, up 1% in this short rned session. brent risie ining as well but slightly less than that. >>> nonetheless, energy prices apparently are about to get lower. our next guest is talking 70s on crude for next year. john, why are you so bearish on oil for next year? >> a couple of things. global economy doesn't look all that great for next year particularly in europe. they have a lot to get together, the greece situation. we're also now -- >> it's going to get worse than it is this year. >> yeah. iea, opec itself all looking for demand declines next year in terms of growth. also, two things that bedevilled the brent market this year, troubles out of the north sea, constantly having problems with production. once that come
that we really have no discussion on. >> i think the egyptian president morsi, it's in his interests to make sure hamas complies by the broad agreement that's been released. and i think the israelis will certainly be eager for a prolonged period of time. at least get them to january 22 and well beyond that. i think there is skepticism also and in gaza, but the arab world has changed and there is a chance that there could be a prolonged period of peace or relative quiet down on the gaza front. >> how significant is it the cease fire has been negotiated with sort of the new authorities bunkering in egypt. p. >> it's incredibly important. mubarak with the last truce in 2009, but no relationship with hamas. morsi has a strong relationship with hamas. has mass hamas is a part of the muslim brotherhood world and the fact he's out there backing the truce gives it much more weight than the previous documents. i think the test for hamas will be whether it can rein in the smaller factions that have sprouted up in gaza that are more radical than itself. and it will be eager to prevent missiles
today over the decree giving new powers to morsi. ayman is live in cairo with the latest. good evening. >> reporter: good evening. tens of thousands of protestors have gathered in tahrir square. many of them saying and singing the same songs and chants in the revolution. they changed the name from mubarak to morsi. the demands are the same. many people behind me today have been galvanized by the degree cree of morsi that gave him sweeping powers, including those to legislate without judicial review. it's not just about the decree. they're disappointed with the pace of reform. they're disappointed with the new constitutional assembly writing a constitution. they say it's not pluralistic and does not represent all of egyptians, and more importantly they're angered by the police force in egypt still using the same brutal tactics they used under mubarak. there have been no reforms and no convictions of officers that killed protestors. they're coming out in large numbers behind me. that has galvanized them and even unifying them politically. president morsi and his muslim brotherhood enjoy
as president morsi says, he is in charge. okay, he's got to be responsible. no more rhetoric. no more siding with one side. he's got to make the thing work. that's what we want to see as responsible leadership. not id logical leadership. >> that's a great point. let me ask you, something unresolved, in this peace treaty or truce, is the issue of gaza and its borders, which borders up into egypt. now the hamas, they want israel to pull the military out. and have a complete opening of the borders. into egypt. general clark, doesn't that open the door, if that ever happened, to iranians rearming, rearming three egypt, through the sinai, rearming hamas just like they always do. >> of course, and israel can't permit that and shouldn't permit that. this is where egypt has to step up and say, we will insure that no weapons get back into gaza. that has to be worked out in stages and demonstrated. it has to be checked and verified. and israel has a continuing interest and should have a continuing right to verify that. >> do you think, general, serious, do you think that hamas, i hope i'm not being to
time, 2:00 p.m. eastern time here in the u.s. the deal announced by the egyptian leader, mohamed morsi, and secretary of state hillary clinton. it was later confirmed by israeli president benjamin netanyahu. comes just hours after a bomb blew up on a bus in the heart of tel aviv. dozens were injured. so far no claim of responsibility but hamas called it a blessed event. within the last few hours, israeli air strikes continued in gaza. this is video of secondary explosions when an hamas weapons depot was hit. michelle caruso-cabrera, our chief foreign correspondent is watching reaction at the nyse. michelle? >> that pushed the dow to the highs of the session. the announcement of the cease-fire got us another 25 points. we have come off the highs, 12,839 is where the dow stands right now, higher by more than 50 points, .4%. president obama reportedly just spoke with israel's prime minister benjamin netanyahu. john harwood joins us now. john, what can you tell us? the white house had a lot at stake here by sending hillary clinton to try to get this resolved. >> reporter: absolutely. and t
that the president morsi rescind -- announcing they're going to go on strike halting work until the decree is revoked. we're live in cairo with the later. high, ayman. >> hi, carl. the people are still demanding that the president morsi rescind his decree. also added to the list of growing demands, they want to see egypt's body that'sing tasked with writing a new constitution be mea reflect erv of egypt's diversity, and that it's not a that it doesn't reflect only the islamic party's perspecti perspective. there's some calls by the protesters to dissolved the current body and mike sure the new body is more diverse. other issues are lingers from the revolutionary days. president morsist says he has to takes the action action becausitis egypt's judiciary that's stalling the it's shaping out -- caught in the midding are supporters every both sides, the liberal and secular state say it's on the wrong side, but the president and supporters say he has the pourer, authority and justification to take these measures. >>> as we look at some of the pictures ayman, thank you. >>> we're being blown around by some
, one with president morsi and one with the foreign minister amir. she will give a press conference. we hear they're standing by for that press conference, which everyone here and in israel is intent on following. after yesterday's swirl of diplomacy, both sides, israel and hamas, seem to have gotten bogged down in the details. apparently, according to some egyptian sources, they haven't been able to bridge their differences. hence the arrival of hillary clinton. a major egyptian online weekly is reporting tuesday, yesterday, egyptian negotiators handed hamas a final proposal to the israelis in jerusalem. since then hamas and egyptians have basically been awaiting israel's final response. of course, it's in that context that hillary clinton now is here. and her presence here is so urgent. she has seen netanyahu twice more since last night. she saw mahmoud abbas, the president of palestine, of the plo, in ramallah. it's really unclear whether secretary clinton is carrying any specific proposals or is here basically to nudge both sides into some kind of compromise. in less than 15 second,
Search Results 0 to 9 of about 10